$BTC
Bitcoin has been stuck in a $5,000 range for eight days, fluctuating between $88,000 and $93,000 as of Sunday. People in the market are becoming more and more sure that an attempt to break out is coming soon, but there is a lot of disagreement about which way it will go. Ted Pillows, a crypto analyst, said that a relief rally might send Bitcoin up to the $98,000-$100,000 level before it goes down again. Captain Faibik, a trader, confidently declared that a positive breakout would happen within days, causing sidelined investors to rush in.
But there are still bearish scenarios to think about. CryptoQuant analyst CryptoOnchain said that the $70,000–$72,000 area is the next big downside target, when more buyers are expected to show interest. One thing that makes people worry about the downside is that more and more Bitcoin is coming into Binance. About $1.4 billion worth of BTC has been added to the exchange. The combination of a technical breakdown below $90,000 and a lot of money coming into exchanges makes it far more likely that the market will go back toward the high-demand zone. Some analysts are even utilizing Elliott Wave theory to guess that Bitcoin may go as high as $150,000, although these guesses are based on the idea that Bitcoin will finish its present corrective phase first.